EUGENE, Ore. (PRWEB) October 17, 2013
The first-ever Small Business Tracking Week being held Oct. 20-26 will include a series of online events aimed at teaching entrepreneurs why it’s important to track metrics, like finances and employee time, to encourage the long-term success of their companies.
Sponsored by Palo Alto Software and TSheets, the week’s activities will include social media campaigns, live Twitter chats and a webinar offering advice on converting existing business plans to daily tracking habits. Both companies will also blog about business tracking best practices throughout the week and share tips on Twitter using the hashtag #TrackThis.
Many of the week’s events will focus on how small businesses can plan ahead to remain profitable despite economic hardships. As small business lending continues to remain tight, tracking financial metrics regularly and having access to critical data helps businesses make the most of existing funds. While the economy has been slow to recover for small businesses, those that plan and track will still grow 30 percent faster. According to a Cranfield University (U.K.) study, the best business plans are semi-formal living documents that emphasize tracking.
“Tracking is the only way to ensure that a business doesn’t fall prey to one of the unfortunate truths about entrepreneurship,” said Sabrina Parsons, CEO of Palo Alto Software. “Half of all businesses fail in the first five years. Tracking your sales, expenses and cash flow against your business plan will help you understand the bigger picture, and steer you toward where you see your company heading long-term.”
In addition to financial tracking, the week’s events will also highlight the importance of accurately tracking employee time to solve payroll and accounting inefficiencies. It’s important for small businesses to have a tracking system that best fits the needs of their employees, whether they work remotely, on-the-go, or in an office.
“Time tracking helps small businesses become more efficient financially by determining exactly how much time is spent on specific tasks and projects,” said Matt Rissell, CEO, TSheets. “Businesses can use this information to make real-time informed decision like when to hire, when to outsource, and how to keep your employees from going into overtime.”
In addition to educational opportunities, Small Business Tracking Week participants will also have a chance to win free subscriptions to both LivePlan and TSheets by entering a Facebook contest at facebook.com/bplans. Contestants can upload a photo of themselves holding a sign depicting one aspect of their business they track along with the hashtag #TrackThis.
The schedule of events for Small Business Tracking Week is as follows:
● JOIN: Live Twitter Chat for 1 hour with Dawn Brolin, CPA and QuickBooks expert: Oct. 23, 10am PDT/1pm EDT. Wondering what to ask Dawn? Tweet any financial related questions using the hashtag #TrackThis and Dawn will personally respond
● LEARN: Daily tracking blog posts on [Link to landing page]: Oct. 20-26
● WATCH: Tracking Tips video with Sabrina Parsons, CEO, Palo Alto Software and Matt Rissell, CEO, TSheets.
● WIN: Facebook “I #TrackThis …” photo contest for a chance to win a Small Business Tracking Package valued at $3000: Entries due by 5:00 p.m. (PDT) Oct. 26
● TWEET: Tweet what you track in your business using #TrackThis to receive discounts on LivePlan and TSheets tracking apps
To learn more, please visit http://www.bplans.com/TrackThis.
About Palo Alto Software
Palo Alto Software, Inc., makers of the #1 selling business planning software in the world, develops and publishes tools, products, and content to help small and midsized businesses pitch, plan, manage, and grow their ventures. LivePlan, the company’s flagship product, is a SaaS (software as a service) solution for business planning and financial management. Palo Alto Software has been the market leader in its category for over 15 years, has served well over 2 million entrepreneurs, and has customers in 180 countries. It was founded in 1988 by business planning expert Tim Berry. Sabrina Parsons has been the company’s CEO since 2007. Parsons successfully expanded its service offering into the cloud with LivePlan. Palo Alto Software is a privately-owned corporation based in Eugene, Oregon.
TSheets is the #1 employee rated and requested time tracking software, with customers in 28 countries worldwide. The company aims to make a difference for bottom line productivity and across the board accountability in the business world by making tracking time simple, versatile, mobile and accessible. With TSheets, employees can track time anywhere, any way they want—using a computer, mobile phone, tablet, GPS-enabled app, text or dial-in number.